Dormant Bitcoin Wallet Awakens After a Decade, Moves $57 Million

A wallet inactive for over a decade has transferred 1004 BTC, valued at $57 million, to a new address. Analysts at Spot On Chain highlighted this movement.

A dormant wallet just woke up after 10.6 years and moved 1,004 $BTC ($57M) to a new wallet ~50 minutes ago!

This wallet received its $BTC in 2013 and 2014 at an average price of only $731 ($737K).

Follow @spotonchain to know when (dormant) whales/governments/institutions move… pic.twitter.com/3PadaahGZy

— Spot On Chain (@spotonchain) July 6, 2024

The wallet acquired the cryptocurrency at an average price of $731 in 2013 and 2014. Over 10.6 years, the value has increased approximately 77-fold.

In early March, an unknown entity sold 1000 BTC mined in 2010, earning approximately $68 million.

Later, a group of 80 wallets moved 2352.62 BTC worth over $163 million after eight years of dormancy.

In the same month, a nearly 12-year dormant address transferred all its 500 BTC, valued at nearly $35 million.

In January, analysts at CryptoQuant noted the movement of 49,866 BTC that had been inactive for more than five years. However, the coins were not sent to an exchange.

In June, a miner from the Satoshi Nakamoto era sent 50 BTC mined 14 years ago to Binance.